SECTION 1. Section 39 of chapter 63 of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting at the end thereof the following paragraph:

"A business corporation shall not be subject to the excise under subsection (b) provided said corporation is within its first three years of incorporation, or if it has paid an amount calculated under the provisions of subsection (a) for all of the previous three years. Under no circumstances shall a business corporation which employs more than 25 full-time employees or its equivalent be eligible for the provisions of this paragraph."

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